Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/174119
Authors: 
Brito, Paulo
da Costa, Luis Filipe Pereira
Dixon, Huw David
Year of Publication: 
2016
Series/Report no.: 
Cardiff Economics Working Papers No. E2016/6
Abstract: 
We present conditions for the emergence of singularities in DGE models. We distinguish between slow-fast and impasse singularity types, review geometrical methods to deal with both types of singularity and apply them to DGE dynamics. We find that impasse singularities can generate new types of DGE dynamics, in particular temporary determinacy/indeterminacy. We illustrate the different nature of the two types of singularities and apply our results to two simple models: the Benhabib and Farmer (1994) model and one with a cyclical fiscal policy rule.
Subjects: 
slow-fast singularities
impasse singularities
macroeconomic dynamics
temporary indeterminacy
JEL: 
C62
D43
E32
Document Type: 
Working Paper

Files in This Item:
File
Size
720.93 kB





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.